In June 2023, the Regional Comprehensive Economic Partnership (RCEP) came into full effect for all 15 signatory countries. Over the past year, tariff reductions and trade facilitation policies have continuously supported Xiamen enterprises in capturing foreign trade markets.
According to Xiamen Customs statistics, over 10,000 RCEP certificates of origin were issued from January to May this year, valued at 3.78 billion yuan ($520 million). The city is working to facilitate cross-border trade, further stimulating the vitality of foreign trade entities and the intrinsic growth momentum of enterprises.
To inject "digital momentum" into cross-border trade facilitation, Xiamen Customs is actively promoting convenient measures for certificates of origin, such as "intelligent review and self-service printing".
These measures ensure that export enterprises benefit from RCEP policies. Now, businesses can simply apply online through the China (Xiamen) International Trade Single Window and print the certificates of origin directly from their offices.
Since the implementation of the RCEP, member countries have been reducing tariffs on imported goods under the agreement as scheduled. As of the end of May, Japan had implemented its fourth round of tariff reductions, the Philippines had carried out its second round, and the remaining 13 countries had completed their third round of reductions.
As the advantages of RCEP policies continue to be realized, numerous foreign trade enterprises are experiencing increasing benefits.